IBERIABANK Invests in the New Orleans Music Economy Initiative

By 2-1-19

Photo from Getty Images

NEW ORLEANS – IBERIABANK, the 131-year-old subsidiary of IBERIABANK Corporation (NASDAQ: IBKC), is pleased to announce its investment in the New Orleans Music Economy (NOME) initiative, led by Greater New Orleans, Inc. (GNO, Inc.). While New Orleans has a renowned reputation for music, it is clear that a strong ecosystem is needed for these musicians to thrive and grow their businesses. This initiative will create a robust industry for musicians locally.

The NOME initiative was created to jumpstart a thriving full music economy in Greater New Orleans that provides jobs and wealth to support musicians, intellectual property managers, publishers, agents, labels, professional services, creative services, and all other aspects of the “business of music.”

Daryl G. Byrd, president and chief executive officer, commented, “IBERIABANK and our Sports & Entertainment banking division are looking forward to this partnership. Our team specializes in and understands the unique financial needs musicians, athletes, and actors have, and we are dedicated to work alongside the musicians to educate and achieve their goals.”

“For years people have talked about building a true music economy in New Orleans,” said Michael Hecht, president and chief executive officer of GNO, Inc. “The difference this time is that the business community is fully committed, with firms like IBERIABANK now taking the lead. The significance of IBERIABANK Sports & Entertainment partnering with GNO, Inc. for the New Orleans Music Economy Initiative is profound – it means that, for the first time, music is being embraced as both a cultural and an economic opportunity.”

Sound Diplomacy, a London, Berlin, and Barcelona-based music policy consultancy and global expert in developing long-term and productive music strategies, has been selected to develop a Music Economy Action Plan for Greater New Orleans.

NOME’s goal is to brand New Orleans as America’s premier music city, not only for live music, but as a sustainable music industry ecosystem.

This project is supported by IBERIABANK, The Helis Foundation, New Orleans & Co., Loyola University, Louisiana Entertainment, the Downtown Development District, Kevin Lin/Noise Fest, New Orleans Business Alliance, the City of New Orleans and others.

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